Dogecoin (DOGE) is holding above a key support level after being locked in a downtrend for close to a month. The leading meme-coin fell to a two-month low below $0.07, triggering notable activity among a certain cohort of investors. Is this impact significant enough to initiate a sustained recovery? On-Chain Metrics Support Dogecoin’s Upside On-chain metrics or data refers to the nature and number of verified transactions that have been recorded on a blockchain. They are important to investors, traders and other market participants as they provide information that can be used to determine potential price movements. One such metric…
Author: Nancy Lubale
Nancy Lubale
Crypto| Blockchain| Tech Writer and Analyst Nancy She has six years of experience producing news coverage in the finance, equities, forex, cryptocurrency, NFT, the Metaverse, blockchain technology, investing and technologyfields. Driven by her passion for technology, she has worked for top crypto companies including Business2Community, Kraken Learn, InsideBitcoins, Blocknews.com, Vauld Insights, Coingape, Forexcrunch, and Economywatch. Her research interests are in technical analysis of crypto assets, DeFi, NFTs, and on-chain data analysis and of late tech and AI news. Twitter: @NancyOmanga, LinkedIn: Nancy Lubale,
Bitcoin (BTC) fought to hold above the $27,000 buy-wall as it closed the trading week on May 14. The big crypto closed the week $27,016 on Binance despite the 4.5% recorded on Sunday. At the time of writing, Bitcoin is going for $27,588, up 1.98% on the day and 3.5% over the last seven days. Its 24-hour trading volume is at $12.74 billion. Despite the recent downturn, BTC’s market value remains above the half a trillion marke – $532 billion – cementing its #1 position according to the CoinMarkertCap ranking. BTC appears to renew optimism amongst traders as it flips…
The crypto market was flashing red on Friday with Ripple (XRP) conspicuously standing out with unexpected gains. The global crypto market value had dropped 2.68% in 24 hours to $1.11 trillion. Bitcoin led the losses among the top cap cryptocurrencies with a 4.48% decrease on the day, sliding below the crucial $27,000 mark to trade at $26,294. This was followed by Ethereum which was down 4.37% to $1,751. Other top non-stablecoin cryptos were also trading with a bearish bias including Binance Coin, Cardano, and Dogecoin which recorded daily losses of 3.15%,1.35%, and 1.70% respectively. Top 10 Cryptos Meanwhile, XRP was…
Ethereum (ETH) inched close to the $1,90o mark in reaction to the US Consumer Price Index (CPI) data which came in at 4.9% below the forecasted 5%. The largest altcoin by market capitalization rose a few minutes after the US Bureau of Labor Statistics (BLS) released the data. CPI Data Release Drives Ethereum Price 5% To $1,880 Ethereum trades in the read at $1,831 in a downtrend that is persisting for the sixth consecutive day. The reading of the US CPI data fueled Ether’s 5% higher to reach a high of $1,888 on Wednesday. CPI data is a well-known economic…
Declines mostly engulfed the cryptocurrency market on Monday and Tuesday, as crypto prices flashed red. Major assets like Bitcoin and Ethereum continue their declines, dropping 1.16% and 0.57% respectively, on the day. Avalanche retreated further to $15.5, affirming the bear’s grip on the price A Double Top Pattern Projects Avax Return To $13 Avalanche, one of the leading Layer 1 tokens in the market, gained 51% of its value to sent a swing high at $21.57 on April 18. However, a seller congestion at this level prevented buyers from reaching the critical $25 psychological level. Thus, a correction took place…